CPU Bottleneck

Stocks · key Fib levels

• AMDAdvanced Micro Devices, Inc.

  $500.94last

  $253.00fib

  +98.0%vs fib
  anchored by Microsoft · Meta · Oracle · OpenAI · Google · Amazon
  • ▸2024-12: $MSFT Azure ND MI300X VM series GA - first hyperscaler MI300 production deployment
  • ▸2025-02: $META disclosed MI300X internal inference workload at scale (Llama serving)
  • ▸2025-06: $ORCL OCI MI300X bare-metal instances live; multi-billion commitment disclosed
  • ▸2025-10: MI325X launch - 256GB HBM3E, shipping to hyperscaler anchors Q4 2025
  • ▸2026-Q1: MI350 series (CDNA4, 3nm) sampling; production ramp H2 2026
  • ▸2026-Q1: ZT Systems acquisition closed - rack-scale AI systems integration in-house
  • ▸2026-04: EPYC Turin (5th gen, Zen 5) shipping; cited in $ORCL, $GOOG, $AMZN earnings as standard fleet CPU
• AMKRAmkor Technology, Inc.

  $63.02last

  $55.00fib

  +14.6%vs fib
  anchored by Apple · Qualcomm · NVIDIA · Broadcom · Texas Instruments
  • ▸**2024-11**: CHIPS Act award finalized - up to $407M direct funding + up to 25% ITC for Peoria, AZ advanced-packaging facility (~$2B total capex)
  • ▸**2023-11**: Apple ($AAPL) named anchor customer for Arizona facility - multi-year supply agreement for advanced packaging + test of TSMC Arizona-fabbed silicon
  • ▸**2024**: Expanded 2.5D advanced-packaging capacity in Korea (K5 facility) to support AI-accelerator customers
  • ▸**2025**: Vietnam facility (Bac Ninh) ramping memory and SiP volume - 2nd-phase build-out announced
  • ▸Long-standing OSAT partner to $QCOM, $NVDA, $AVGO, $TXN, $INTC across mainstream and advanced packaging
• ARMArm Holdings plc

  $262.01last

  $185.00fib

  +41.6%vs fib
  anchored by NVIDIA · Apple · AWS · Google · Microsoft · Meta · Qualcomm · MediaTek · Samsung
  • ▸2024-02 - Microsoft Cobalt 100 announced - first MSFT-custom Arm server CPU; Azure deployment broadens
  • ▸2024-04-09 - Google Axion (Arm v9) announced for GCP general-purpose compute
  • ▸2024-05 - Apple M4 launched (3nm, all-Arm v9 across M-series, A18 Pro across iPhone, S-chip across watch)
  • ▸2024-11 - AWS Graviton4 GA; Arm Neoverse V2 powers 50%+ of EC2 compute hours within targeted SKUs
  • ▸2025 - NVIDIA Grace + Blackwell shipping at scale (Arm v9 Neoverse V2 paired with every Blackwell GPU); Rubin generation continues the Arm pairing
  • ▸2025-09 - Google Axion GA on GCP
  • ▸2026-Q1 - Apple M5 (3nm successor, Arm v9.x) + A19 Pro launch maintain Apple's 100% Arm-silicon stack
  • ▸2026 - Compute Subsystems (CSS) chiplet IP in production-ready hyperscaler programs; royalty per AI accelerator unit rises as CSS-licensed designs ship
• INTCIntel Corporation

  $96.98last

  $60.00fib

  +61.6%vs fib
  anchored by Amazon Web Services · Microsoft · Dell · HP · Lenovo · Department of Defense · IBM Cloud
  • ▸2024-02: CHIPS Act award - $8.5B grant + $11B loan for Arizona/Ohio/New Mexico fabs
  • ▸2024-09: Amazon Web Services ($AMZN) - multi-year 18A custom AI fabric chip + Xeon 6 supply deal
  • ▸2024-09: Microsoft ($MSFT) - 18A custom chip design win (disclosed at Direct Connect 2024)
  • ▸2025-01: Department of Defense - Secure Enclave / RAMP-C trusted-fab Phase 3 award
  • ▸2025-Q2: Altera carve-out - Silver Lake acquires 51% at $8.75B EV
  • ▸2026-Q1: Gaudi 3 - IBM Cloud ($IBM) and Dell ($DELL) as launch infrastructure partners

Co-movement matrix (252d)